The New York Times Reports Q3 Earnings Beat Driven by Digital Subscription Growth
The New York Times Company (NYSE: NYT) reported third-quarter financial results that exceeded Wall Street expectations, driven primarily by a robust expansion in its digital subscriber base. The company added 420,000 digital-only subscribers during the quarter, contributing to a 14.6% year-over-year increase in digital subscription revenue, which reached $421.3 million. Total revenue rose 9.7% year-over-year to $768.5 million, surpassing analyst estimates. While print subscription revenue saw a slight decline of 0.7%, the company's overall financial health was bolstered by strong digital performance and growing advertising revenue. Non-GAAP earnings per share (EPS) came in at $0.68, beating consensus estimates by $0.03.
Tickers: $NYT
Topics: advertising revenue digital subscriptions earnings beat revenue growth
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